Gold Fields Limited · JSE:GFI
Gold Fields — BofAML 2017 Global Metals, Mining and Steel Conference
17 slides from Gold Fields's conference presentation, May 17, 2017
Slide 1: BofAML 2017 Global Metals, Mining and Steel Conference
BofAML 2017 Global Metals, Mining and Steel Conference NICK HOLLAND - CEO 17 May 2017
Slide 2: Forward looking statements
Forward looking statements Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. In particular, the forward looking statements in this document include
Slide 3: Gold Fields overview
Gold Fields overview Attributable reserves Group: FY 2016 As at 11 May 2017 [CATEGOR [CATEGOR Share price (JSE/ADR) R46.57/$3.48 Y NAME]; Y NAME]; Attributable production 2,146koz 7.0Moz 5.8Moz Market capitalisation ($m) 2,859 [CATEGOR AIC US$1,006/oz Y NAME]; Enterprise value ($m) 4,100 1.3Moz Mine
Slide 4: Progress against strategic objectives
Progress against strategic objectives Committed to Stick to Grow cash flow delivering on dividend policy Continue to and margin with Continue to Deliver a our plans in of paying out evaluate value- reduce net sustainable an increase in terms of both 25% - 35% of accretive debt South Deep the gold pr
Slide 5: Delivering on our production and cost plans
Delivering on our production and cost plans Production (koz) AIC (koz) 2500 1400 1200 2000 1000 1500 800 1000 600 400 500 200 0 0 2013 2014 2015 2016F 2013 2014 2015 2016F Actual Guidance Actual Guidance Meeting or exceeding guidance for four years BofAML Global Metals, Mining and Steel Conference ,
Slide 6: Gold Fields vs. global peers
Gold Fields vs. global peers 1 200 Kinross AngloGold 1 100 Sibanye Newmont Gold Fields 1 000 All-in Costs (US$/oz) Agnico Goldcorp 900 Randgold Barrick 800 Newcrest 700 600 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 Production (koz) Note: Size of bubble indicates current market cap Putting Gold Fie
Slide 7: 2016 peer valuation and cash flow analysis
2016 peer valuation and cash flow analysis EV/Adj. EBITDA US$/oz Net cash flow/production oz 14 13.0 12.0 400 12 10.9 300 10.5 10 200 8.2 100 8 6.5 0 6 5.2 4.3 -100 4 3.1 3.3 -200 -300 2 -400 0 -500 Randgold Agnico Barrick AngloGold Goldcorp Newcrest Kinross Newmont Sibanye Gold Fields Harmony Randg
Slide 8: Investing for the future
Damang pit, Ghana Gruyere, Western Australia South Deep, South Africa Salares Norte, Chile Investing for the future
Slide 9: Investing to sustain free cash flow for the long-term
Investing to sustain free cash flow for the long-term ● In order to sustain and grow free cash flow, investment is necessary ● Focus is on reinvesting in the business to ensure sustainable free cash flow Production and AIC ● Only embark on investments and capital expenditure 2400 1300 with excellent
Slide 10: Reinvesting to unlock Damang's potential
Reinvesting to unlock Damang’s potential ● Reinvestment will extend Damang’s life of mine (LOM) Tonnes mined vs. head grade g/t Mt by 8 years from 2017 to 2024 40 2.50 ● Total project capital of US$341m over LOM 35 2.00 ● Average annual production of c.225koz, AISC of 30 US$700/oz and AIC of US$950/
Slide 11: Progress on Damang
Progress on Damang ● The Damang reinvestment project commenced on 23 December 2016 with the two major contractors operating in the Damang complex and satellite pit areas ● Good progress made to date: ̵ Total tonnes mined in Q1 2017 were 9.61Mt vs. plan of 7.34Mt ̵ Total tonnes mined in 2017 are expe
Slide 12: Gruyere adds life and quality in WA
Gruyere adds life and quality in WA LOM Plan First gold Late 2018/early 2019 Life of mine 13 years Annual production (100% basis) 270koz AISC A$945/oz (US$690/oz) AIC A$1,103/oz (US$805/oz) Total capital cost (100% basis) A$507m (US$370m) IRR at A$1,500/oz gold after taking into 6% account acquisiti
Slide 13: Progress on Gruyere
Progress on Gruyere ● Approval for the Project Management Plan, Mining Proposal and Mine Closure Plan was granted by the Western Australian Department of Mines and Petroleum in February 2017 ● Construction of Stage 1 accommodation village (288 rooms) completed ● Construction of Stage 2 accommodation
Slide 14: Brownfields exploration in Australia
Brownfields exploration in Australia ● A$102m exploration spend in 2016 ̵ This resulted in Reserves incrteasing 13% (excluding Gruyere) after depletion ● A$89m budgeted for exploration in 2017 ● Resource and Reserve Growth ̵ Wallaby (Granny Smith) ̵ Invincible (St Ives) ● Emerging Projects A$28.4m ̵
Slide 15: Salares Norte moving up the value curve
Salares Norte moving up the value curve ● 100% Gold Fields owned gold-silver deposit in the Atacama region of northern Chile ● Mineralisation is contained in a high-sulphidation epithermal system, offering high-grade oxides ● c.100km of drilling completed ● Mineral resources as at 31 December 2016 o
Slide 16: South Deep
South Deep ● 2016 saw a step change in production as the base was reset – difficult start to 2017 ● Production build up will be much steadier over the next six years as South Deep approaches full production ● Mining from North of Wrench increases from 36% to 73% at full production ● At steady state:
Slide 17: Investor Relations Contacts
Investor Relations Contacts Media Contact Avishkar Nagaser Thomas Mengel Sven Lunsche Tel: +27 11 562 9775 Tel: +27 11 562 9849 Tel: +27 11 562 9763 Mobile: +27 82 312 8692 Mobile: +27 72 493 5170 Mobile: +27 83 260 9279 E-mail: E-mail: E-mail: Avishkar.Nagaser@goldfields.co.za Thomas.Mengel@goldfie
Gold Fields — BofAML 2017 Global Metals, Mining and Steel Conference on 6ix